The Allais critique of expected utility theory (EUT) has led to the development of theories of choice under risk that …

model of choice. We evaluate the performance of different models (including expected utility, disappointment aversion, rank … dependent utility, mean-variance utility, and stochastically monotone utility) in the data collected by Choi et al. (2007), in …

because of inconsistencies in revealed preferences across behavioral frames. We adapt theories of expected utility …

This article reviews recent developments in revealed preference theory. It discusses the testable implications of … theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments …, subjected expected utility and maxmin expected utility in the presence of uncertainty, and exponentially discounted utility for …

Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that …